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Thread: I hope that this will be Kipp-Stawski's Newest Project

  1. #1

    Default I hope that this will be Kipp-Stawski's Newest Project

    I was surprised to learn that Kipp-Stawski owns this filthy, hideous building which is one of the examples of crap on Fifth Avenue that I often loathe. I sincerely hope that the company is trying to buy the two little pieces of mierda to the north of this one and will tear all three hideous eyesores down. They could build a magnificent 25/30 story tower. I'm sure that one day it will happen since this company has replaced so much crap on 5th and on Madison with nice buildings.

    Here's a photo of 579 Fifth Avenue:
    http://listings.kipp-stawski.com/ob/pix/mh/md0541.jpg
    Last edited by londonlawyer; January 23rd, 2006 at 10:03 AM.

  2. #2

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    and what about rosen of rfr realty llc
    they own
    516 and 518 fifth by the nw/corner
    of fifth and 43rd

  3. #3

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    Those buildings are not nearly as bad as this though. The sites on 5th in the 40's that I desperately want to see redeveloped (besides the one posted above) are:

    1. The hideous white building that's about 20 stories and is on the west side of the street and has a facade that reminds me of 2 Columbus Circle.

    2. The block on the west side between 46th and 47th (although the two northernmost buildings on that block are nice and just need to be renovated).

    3. The block on the west side of Fifth that has the hideous Phillipines Air building (although the Safra Bank is obviously nice, as is the old building next to it, which simply needs to be renovated).

    4. The hideous Bank of NY building which is just north of the JP Morgan building on the west side of the street. Even if it were just given a brick and limestone facade it would be a massive improvement. However, its current state (i.e., a filthy concrete box) is not good.

  4. #4

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    I assume that these air rights can be transferred to a non-contiguos site on the next block. Does anyone know if they can or cannot be?

    From therealdeal.net:

    "A package of Fifth Avenue buildings and the air rights between them could go for as much as $80 million, the New York Post reported. Clothier Benetton is selling the former Scribner's bookstore building at 597 Fifth Avenue and a building at 3 East 48th Street. Between the two is 50,000 square feet of air rights, which can be sold along with either building. Nat Rockett and Mark Marasciullo of Jones Lang LaSalle are the sales agents."

  5. #5

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    London: What? The building at the corner is an eyesore but the small limestone building to the north is an absolute gem. Limestone, classical detailing, elaborate iron railings... this is exactly the kind of chic little building that gave the avenue itīs reputation)... it would make a spectacular boutique. 5th has lost so many of these.... look how wonderful it is to have the block were Bendelīs is saved.... this is EXACTLY one of those kind of buildings.

  6. #6

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    can air rights be transferred across the street, or only next to it ?

  7. #7

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    Quote Originally Posted by londonlawyer
    I assume that these air rights can be transferred to a non-contiguos site on the next block. Does anyone know if they can or cannot be?

    From therealdeal.net:

    "A package of Fifth Avenue buildings and the air rights between them could go for as much as $80 million, the New York Post reported. Clothier Benetton is selling the former Scribner's bookstore building at 597 Fifth Avenue and a building at 3 East 48th Street. Between the two is 50,000 square feet of air rights, which can be sold along with either building. Nat Rockett and Mark Marasciullo of Jones Lang LaSalle are the sales agents."
    i thoght you are a lawyer

  8. #8

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    Quote Originally Posted by londonlawyer
    Those buildings are not nearly as bad as this though. The sites on 5th in the 40's that I desperately want to see redeveloped (besides the one posted above) are:

    1. The hideous white building that's about 20 stories and is on the west side of the street and has a facade that reminds me of 2 Columbus Circle.

    2. The block on the west side between 46th and 47th (although the two northernmost buildings on that block are nice and just need to be renovated).

    3. The block on the west side of Fifth that has the hideous Phillipines Air building (although the Safra Bank is obviously nice, as is the old building next to it, which simply needs to be renovated).

    4. The hideous Bank of NY building which is just north of the JP Morgan building on the west side of the street. Even if it were just given a brick and limestone facade it would be a massive improvement. However, its current state (i.e., a filthy concrete box) is not good.
    what about the building
    at the sw/corner of 49th and 5th
    that has the fridays in it and the building to the north,


    and they will not take down 530 fifth its a big building

  9. #9

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    Quote Originally Posted by londonlawyer
    I assume that these air rights can be transferred to a non-contiguos site on the next block. Does anyone know if they can or cannot be?
    It was always my understanding that transferable development rights (TDRs) had to be contiguous with the property, unless a special provision is made.

    That provision would usually specify how far away, and in what manner, the transferred air-rights are reassembled.

    Example: Hudson railyards.

  10. #10

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    Quote Originally Posted by jeffpark
    i thoght you are a lawyer
    Lawyers specialize, and I do nothing with real estate.

  11. #11

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    Quote Originally Posted by Fabrizio
    London: What? The building at the corner is an eyesore but the small limestone building to the north is an absolute gem. Limestone, classical detailing, elaborate iron railings... this is exactly the kind of chic little building that gave the avenue itīs reputation)... it would make a spectacular boutique. 5th has lost so many of these.... look how wonderful it is to have the block were Bendelīs is saved.... this is EXACTLY one of those kind of buildings.
    I agree with you Fabrizio. I meant the one piece of junk just north of the corner building.

  12. #12

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    what's with the dr' development site in soho
    and i think he has done the best job on madison and fifth with small lots

    other then macklow

  13. #13

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    Quote Originally Posted by ZippyTheChimp
    It was always my understanding that transferable development rights (TDRs) had to be contiguous with the property, unless a special provision is made.

    That provision would usually specify how far away, and in what manner, the transferred air-rights are reassembled.

    Example: Hudson railyards.
    Thanks for the info.

  14. #14

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    KS has on their website that KPF will design a new facade for this POS.

  15. #15

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    The new facade is horrible. This stretch of 5th really looks like crap. To begin with, the city should eliminate two lanes of traffic and expand (and landscape the sidewalk). This area really looks horrible.

    It's a travesty that this dumpy location was excluded from the Midtown rezoning project. Are the pollyannas behind this project under the illusion that this disgusting stretch of 5th is worth saving? Far more stunning buildings on Madison and Lex are likely to fall that the crap in this area.

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